Search

Begin New Search Political Geography Europe Publication Year within 10 Years

6211. The Liquidity Effects of Official Bond Market Intervention

Author:
Michiel De Pooter, Robert F Martin, and Seth Pruitt
Publication Date:
07-2015
Content Type:
Commentary and Analysis
Institution:
Board of Governors of the Federal Reserve System
Abstract:
To "ensure depth and liquidity," the European Central Bank in 2010 and 2011 repeatedly intervened in sovereign debt markets through its Securities Markets Programme. These purchases provide a unique natural experiment for testing the effects of large-scale asset purchases on risk premia arising from liquidity concerns. To explore how official intervention influences liquidity premia, we develop a search-based asset-pricing model. Consistent with our model's predictions, we find statistically and economically significant stock and flow effects on sovereign bonds' liquidity premia in response to official purchases.
Topic:
Markets, Bonds, Banking, and Liquidity
Political Geography:
Europe

6212. All Still Quiet in the East

Author:
Yu Bin
Publication Date:
05-2015
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Pacific Forum
Abstract:
China-Russia relations were quite uneventful in the first four months of 2015. Instead, Moscow and Beijing seemed on divergent paths as the former continued to be plagued by geopolitics (Ukraine, Iran, etc.), while the latter was busy with geoeconomics (Asian Infrastructure Investment Bank (AIIB), Belt and Road Initiative, etc.). Beneath the surface calm, however, preparations were in high gear for the coming months in both symbolic (70th V-Day anniversary) and substantive areas such as strategic consultation, aerospace cooperation, and military sales.
Topic:
Diplomacy, International Cooperation, International Trade and Finance, Bilateral Relations, and Infrastructure
Political Geography:
Russia, China, Europe, and Asia

6213. Tales of Two Parades, Two Drills, and Two Summits

Author:
Yu Bin
Publication Date:
09-2015
Content Type:
Journal Article
Journal:
Comparative Connections
Institution:
Pacific Forum
Abstract:
In contrast to the inactivity in Sino-Russian relations in the first four months of the year, strategic interactions went into high gear in mid-year. It started on May 8 with the largest military parade in post-Soviet Russia for the 70th anniversary of the Great Patriotic War and ended on Sept. 3 when China staged its first-ever Victory Day parade for the 70th anniversary of its war of resistance against Japan’s invasion of China. In between, the Russian and Chinese navies held two exercises: Joint-Sea 2015 (I) in May in the Mediterranean and Joint Sea-2015 (II) in the Sea of Japan in August. In between the two exercises, the Russian city of Ufa hosted the annual summits of the SCO and BRICS, two multilateral forums sponsored and managed by Beijing and Moscow outside Western institutions. For all of these activities, Chinese media described Sino-Russian relations as “For Amity, Not Alliance.”
Topic:
Security, Diplomacy, Bilateral Relations, and Strategic Interests
Political Geography:
Russia, China, Europe, and Asia

6214. Three Myths Behind the Case for Grexit: A Destructive Analysis

Author:
Photis Lysandrou
Publication Date:
06-2015
Content Type:
Working Paper
Institution:
City Political Economy Research Centre (CITYPERC), University of London
Abstract:
Greece faces a stark choice: either to compromise on the terms laid down by its international creditors and thereby remain in the eurozone or reject any compromise on the terms and exit the eurozone. The Syriza government was elected in January, 2015, on the double promise that it would tear up the deeply unpopular memorandum imposed by the Troika while at the same keeping the euro. It was a promise that it could not keep. After several months of tough negotiations it has become clear that Greece's creditors, led by the German government, have no intention of accepting a renegotiated deal that substantively lightens Greece's debt burden and thus the need for the type of harsh austerity measures contained in the memorandum.
Topic:
Debt, Economics, Government, and Financial Crisis
Political Geography:
Europe and Greece

6215. Changing Dynamics of Turkish Regional Policy: Resistance for Multilevel Governance?

Author:
Ali Onur Ozcelik
Publication Date:
07-2015
Content Type:
Journal Article
Journal:
The Rest: Journal of Politics and Development
Institution:
Centre for Strategic Research and Analysis (CESRAN)
Abstract:
This article is concerned with the relationship between Europeanization and regionalization processes in Turkey in the post-Helsinki Era of 1999. By considering European regional policy and its related pre-accession financial incentives as the most useful and appropriate empirical lenses, it offers an analysis of the causes and mechanisms encouraging regionalization process in Turkey during the EU accession process. Through the analysis of official documents and of in-depth interviews with relevant actors in the EU and Turkey, findings suggest that while some of the changes are considered as direct effects of Europeanization, such as the creation of territorial system according to NUTS classification, other developments are invoked by indirect mechanisms of Europeanization, such as the creation of regional development agencies (RDAs) and their role in regional planning and allocation of national funds. More importantly, the findings illustrate that although the EU’s credibility has declined after 2005 and its regional policy, in the sense of the implementation of regional policies and management of structural funds, have shifted towards the more centralized model in the post-Lisbon era (for the 2007-2013 structural fund programme), developments in these areas in Turkey have gone to opposite directions, more accurately, through the more regionalized model. These changes not only reflect the pre-Lisbon practices of EU regional policy and structural funds underlining a spill-over effect resulting from the dissemination of EU practices and policies, but also contain the spices of Turkish administrative tradition.
Topic:
Regional Cooperation, Governance, European Union, Europeanization, and Regionalism
Political Geography:
Europe, Turkey, and Asia

6216. Testing the Rentier State Theory: The Case of Azerbaijan

Author:
Alper Almaz
Publication Date:
07-2015
Content Type:
Journal Article
Journal:
The Rest: Journal of Politics and Development
Institution:
Centre for Strategic Research and Analysis (CESRAN)
Abstract:
This article shall focus on the political aspects of the resource curse theory, in particular the rentier state theory as a sub-theory of the resource curse. The rentier state is a political economy theory that seeks to account for state society relations in states that get most of their revenues, in the form of rents, from resource sector. Besides, the theory asserts that these rents have an effect on democracy, economic growth and security matters of the resource rich countries. Applying this theory to Azerbaijan shall contribute to Azerbaijan's political economy literature. In this paper, I argue that revenues generated from energy exports hinder democracy in Azerbaijan since they are used for fulfilling pockets of political elites and hampering emergence of any opposition to the dominant groups. In the very first part of the paper, the rentier state theory will be elaborated. More specifically, the concept of rentier state and how a rentier state behaves will be explained in detail so as to provide a framework for the case study of this paper. In the second part after giving a short brief about Azerbaijan's energy reserves and societal problems the rentier state theory will be applied to Azerbaijan in order to find out whether it suffers from the rentier state deficiencies. Indeed, the rentier effect and the repression effect of the theory will be analysed. In the final part, concluding remarks will be delivered with a laconic summary of the paper.
Topic:
Energy Policy, Democracy, Elites, and Rentier State Theory
Political Geography:
Europe, Asia, and Azerbaijan

6217. BRICS As a Transregional Advocacy Coalition

Author:
Roberta Rodrigues Marques de Silva and Eduardo Rodrigues Gomes
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:
Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:
In this article, we aim to: (i) review the concepts adopted in the literature to explain the nature and behavior of the BRICS in international relations and (ii) present a new BRICS conceptualization proposal. From the first to the last Summit Conference, the BRICS explicitly advocates a multilateral world order through the inclusion of emerging countries in the base institutions of the Western order. For the elaboration of the article, we review the literature on BRICS, as well as the approach on regionalism proposed by Soderbaum to elaborate our conceptualization of the BRICS as an advocacy coalition.
Topic:
Development, Hegemony, Economic Growth, and Regionalism
Political Geography:
Russia, China, Europe, India, Asia, South Africa, Brazil, and South America

6218. Eurasia Amidst The Spirit of Shanghai and A Community of Shared Future

Author:
Sunamis Fabelo Concepción
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
AUSTRAL: Brazilian Journal of Strategy International Relations
Institution:
Postgraduate Program in International Strategic Studies, Universidade Federal do Rio Grande do Sul
Abstract:
The article is based on the analysis of the integrationist trends that have evolved in Central Asia between 1991 and 2015. It deals with how the historical reality of the Central Asian republics conditioned them to search for centers of reference to guide the construction of their political and economic systems. This situation caused these countries, since their independence, to begin to interact with important international relations players, with whom they built a series of interdependent relations that were tracing two integrationist conceptions that became trends: Western and Eurasian. The latter one is the one that has most advanced in the period studied, promoted by Russia and China with the implementation of important mechanisms of association, cooperation and consensus, among which the Shanghai Cooperation Organization, the Eurasian Economic Union and the New Silk Road project. In this sense, the Chinese megaproject One Belt One Road is supported by a series of conceptual bases as a result of the progress and evolution of the Eurasian trend understood in its broader meaning.
Topic:
International Cooperation, Infrastructure, Belt and Road Initiative (BRI), and Silk Road
Political Geography:
China, Europe, and Asia

6219. Khattab (Jihadi Bios Project)

Author:
Muhammad Al-'Ubaydi
Publication Date:
03-2015
Content Type:
Special Report
Institution:
The Combating Terrorism Center at West Point
Abstract:
This report on Khattab, authored by Muhammad al-`Ubaydi, was released as part of the CTC’s Jihadi Bios Project, a series edited by Dr. Nelly Lahoud. The Jihadi Bios Project The CTC is pleased to launch the publication of papers as part of a series devoted to the study of jihadist biographies. The purpose of this project is to contribute to the knowledge of the evolution of the jihadist landscape by exploring it through the lens of the worldviews and experiences of actors who have shaped it. While some states and organizations, wittingly or unwittingly, contributed to the growth of the jihadist enterprise, it may be argued that modern jihadism, as it continues to unfold, is also the product of individuals, who made it into the global phenomenon that it is. As we study the biographies of jihadis, we are faced with a world crowded with different and differing worldviews. Beneath the banner of jihad that seemingly unites jihadis worldwide is a world marked not just by cooperation between groups and individuals, but also by competition and divisions. Some of the jihadis who occupy that world are characterized by a commitment to idealistic goals, by acumen, skills, and agility; others are driven by sectarianism, criminal disposition, and opportunism; while others manifest an odd combination of all. That is why the actions emanating from the jihadist landscape are the results of an amalgam of strategy, sophisticated planning and targeting, randomness, and juvenile enthusiasm. It is for these reasons and more that the complexity of the jihadist landscape requires different layers of analyses and a rigorous and patient approach to the subject. In short, the study of jihadism is about both the “forest” and the “trees;” and this series of biographies is a study of the “trees” as they are situated in the broader “forest.”
Topic:
Terrorism, History, and Jihad
Political Geography:
Russia, Europe, Middle East, and Saudi Arabia

6220. Transatlantic Security, Defence and Strategy: Badly Needed Reforms

Author:
Peter M.E. Volten(ed.)
Publication Date:
01-2015
Content Type:
Journal Article
Journal:
All Azimuth: A Journal of Foreign Policy and Peace
Institution:
Center for Foreign Policy and Peace Research
Abstract:
This year we celebrate the twenty-fifth anniversary of the downfall of communism in Europe, the fall of the Berlin Wall and the end of the Cold War. Students who started their postsecondary education this year were born about seven years after this anniversary, in 1996. And the freshmen of 1990 are now in their early forties. In Europe, the latter generation is about to take on political leadership and may still be aware of the ‘Idea of Europe’ as advocated by one of the fathers of the European Union, Jean Monnet: “No more war on this continent; we will build institutions and peace instead.” Today’s enrolling students probably do not remember this forceful idea; nor do they realise the significance of this inspiring idea in overcoming great difficulties to achieve a peaceful, democratic and prosperous EU. The freshmen of today may take this for granted while being rather more disturbed by the confusing world of globalisation, populist slogans such as ‘The War on Terror’, multilevel governance and a rippled sense of direction and political effectiveness in the EU or, for that matter, NATO; in other words, throughout the transatlantic world.
Topic:
Security, Defense Policy, NATO, Reform, and Transatlantic Relations
Political Geography:
Europe and United States of America